Updated on June 20, 2018 10:22:09 AM EDT
The National Association of Realtors gave us Mays Existing Home Sales figures late this morning. They announced a 0.4% decline in home resales last month when analysts were expecting to see an increase in sales. Because housing sector weakness makes broader economic growth more difficult, this was favorable for bonds and mortgage rates. However, since this is only a moderately important report, we have not seen a strong reaction in the bond market.